Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Second Quarter 2019 Financial and Operating Results; Announces Significant Drop Down Transaction

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Go back to Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Second Quarter 2019 Financial and Operating Results; Announces Significant Drop Down Transaction

Viper Energy (VNOM) Misses Q2 EPS by 9c; Announces 'Significant' Drop Down Transaction

July 30, 2019 4:59 PM EDT

Viper Energy (NASDAQ: VNOM) reported Q2 EPS of $0.04, $0.09 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $72.19 million versus the consensus estimate of $71.71 million.

Additionally, Viper today announced it has entered into a definitive purchase agreement to acquire certain mineral and royalty interests from subsidiaries of Diamondback for 18.3 million Class B units of Viper, an equal number of common units in Viper's operating subsidiary and $150 million in cash, subject to certain adjustments, in a drop down transaction ("Drop Down"). Based on the volume weighted average sales price of... More